Amgen Inc is close to buying Onyx Pharmaceuticals Inc for $125 per share, or more than $10 billion, in a deal that is expected to be announced as soon as Monday, two people familiar with the matter said on Saturday.A deal, which is still being finalized and would require board approval from both companies, would represent the fifth-largest biotechnology deal in history.The proposed takeover would value Onyx at 13 times the company's expected revenues for next year, one of the richest valuations in biotech takeovers, one of the people said.The people asked not to be identified because the matter is not public. Representatives for Amgen and Onyx could not be immediately reached for comment.
Amgen Inc. is a global biotechnology pioneer that discovers, develops, manufactures and delivers human therapeutics. Shares of AMGN fell by 0.65% or $-0.69/share to $105.60. In the past year, the shares have traded as low as $80.60 and as high as $114.95. On average, 3248110 shares of AMGN exchange hands on a given day and today's volume is recorded at 1572216.
Onyx Pharmaceuticals, Inc. (Onyx) is a biopharmaceutical company. Shares of ONXX fell by 0.54% or $-0.63/share to $116.96. In the past year, the shares have traded as low as $68.12 and as high as $136.87. On average, 2289700 shares of ONXX exchange hands on a given day and today's volume is recorded at 1236300.
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